Quote from: magneto on November 26, 2018, 08:09:18 PM

Quote from: Ramya494 on November 19, 2018, 12:12:30 PM

I always wonder what might be the reason of centralised authorities not accepting the power of Decentralization and then found the reason,if so decentralization becomes the only means for the transactions then most of the regulators and authorities might be jobless and so they are putting maximum to let down this technology by creating a hype that all the crypto currencies are scam and you can making nothing out of them investing,so we Crypto enthusiasts need to put our maximum efforts to empower decentralization .

I wouldn't say that centralised entities are necessarily going to be eliminated by blockchain technology or cryptocurrencies.

The fact of the matter is that blockchain technology can and is being integrated into business systems, including central banks of certain countries currently trialling the technology, and cryptocurrencies will still have centralised third party services such as banks in the future, if they do go mainstream.

As a result, there will also be regulators which look after the third party services that uses cryptocurrencies or blockchain no matter what, despite the fact that they will never be able to "regulate" the bitcoin network itself.

The main reason why I think a lot of centralised institutions oppose bitcoin is obviously that they are concerned that control will be moved away from them, and that a lot of older generation financiers still don't fully understand the concept of decentralisation.

I agree with you, also I would like to add the fact that most of people today does not want or does not know how to control their finance stuffs without banks, so we need firstly to educate peoples about benefits which decentralization gives to us, and responsibility which comes with that.
I also believe in technology improvement which must bring these benefits easly and simple to understand for end user.